The Ministry of Mines and Energy has announced that the price of petrol and both diesel variants (50ppm and 10ppm) will remain unchanged for the month of November 2024.
The decision comes as the National Energy Fund will absorb the entirety of the incurred under-recoveries, amounting to 6.292 cents per litre for petrol, 18.543 cents per litre for 50ppm diesel, and 10.736 cents per litre for 10ppm diesel.
In Walvis Bay, the price of petrol will thus remain at N$20.25 per litre, diesel 50ppm at N$19.72 per litre, and diesel 10ppm at N$19.82 per litre.
The unchanged fuel prices follow an October price reduction of N$1 per litre for petrol and both diesel types.
The Ministry has also resolved to extend the temporary relief margin of 20 cents per litre granted to oil importers for an additional three months, from October to December 2024.
“This relief margin is expected to be discontinued once the Bulk Petroleum Import Coordination System becomes effective on a date to be announced in the near future,” the Ministry stated.
